AOTG vs. BNO
AOTG (AOT Growth and Innovation ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - AOTG is a Technology Equities fund actively managed by AOT, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. AOTG is actively managed, while BNO is passively managed. Over the past 3 years, AOTG returned 28.98%/yr vs 26.74%/yr for BNO. At a 0.03 correlation, their price movements are largely independent. AOTG charges 0.75%/yr vs 0.90%/yr for BNO.
Performance
AOTG vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, AOTG achieves a 16.15% return, which is significantly lower than BNO's 85.31% return.
AOTG
- 1D
- -0.51%
- 1M
- 12.54%
- YTD
- 16.15%
- 6M
- 14.95%
- 1Y
- 39.35%
- 3Y*
- 28.98%
- 5Y*
- —
- 10Y*
- —
BNO
- 1D
- -2.71%
- 1M
- -9.80%
- YTD
- 85.31%
- 6M
- 79.66%
- 1Y
- 88.71%
- 3Y*
- 26.74%
- 5Y*
- 23.48%
- 10Y*
- 13.13%
AOTG vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AOTG AOT Growth and Innovation ETF | 16.15% | 25.26% | 32.20% | 54.58% | -11.53% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 9.67% | -3.43% | -15.53% |
Correlation
The correlation between AOTG and BNO is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.03 |
The correlation between AOTG and BNO shifts across timeframes, from -0.24 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AOTG vs. BNO — Risk / Return Rank
AOTG
BNO
AOTG vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AOT Growth and Innovation ETF (AOTG) and United States Brent Oil Fund LP (BNO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AOTG | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 4.99 | -3.26 |
| Martin ratioReturn relative to average drawdown | 4.98 | 9.39 | -4.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AOTG | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 2.15 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.96 | 0.14 | +0.82 |
Drawdowns
AOTG vs. BNO - Drawdown Comparison
The maximum AOTG drawdown since its inception was -31.63%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for AOTG and BNO.
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Drawdown Indicators
| AOTG | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.63% | -87.06% | +55.43% |
Max Drawdown (1Y)Largest decline over 1 year | -22.85% | -17.87% | -4.98% |
Max Drawdown (3Y)Largest decline over 3 years | -27.41% | -23.75% | -3.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -2.81% | -12.72% | +9.91% |
Average DrawdownAverage peak-to-trough decline | -7.89% | -40.16% | +32.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.93% | 9.48% | -1.55% |
Volatility
AOTG vs. BNO - Volatility Comparison
The current volatility for AOT Growth and Innovation ETF (AOTG) is 7.56%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that AOTG experiences smaller price fluctuations and is considered to be less risky than BNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOTG | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 14.12% | -6.56% |
Volatility (6M)Calculated over the trailing 6-month period | 18.77% | 36.21% | -17.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.89% | 41.56% | -17.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.26% | 35.40% | -6.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.26% | 36.69% | -7.43% |
AOTG vs. BNO - Expense Ratio Comparison
AOTG has a 0.75% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
AOTG vs. BNO - Dividend Comparison
Neither AOTG nor BNO has paid dividends to shareholders.
Frequently Asked Questions
AOTG and BNO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (14.12%) compared to AOTG (7.56%). In terms of maximum drawdown, AOTG dropped -31.63% vs BNO's -87.06%.
On 3-year performance, AOTG leads with 28.98% vs 26.74% for BNO. On fees, AOTG is cheaper at 0.75% per year. On volatility, AOTG has been the lower-risk option at 7.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AOTG has performed better with a 28.98% return vs 26.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AOTG is cheaper with a 0.75% expense ratio, compared with 0.90% for BNO.
AOTG and BNO have nearly identical dividend yields, around 0.00%.
AOTG is categorized as Technology Equities, while BNO is Oil & Gas. They also come from different issuers: AOT and Concierge Technologies. Their fees differ too: 0.75% for AOTG and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.15 vs 1.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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